Highland Global Allocation Fund (NASDAQ:HGLB) Trading Up 0.1% – Still a Buy?

Highland Global Allocation Fund (NASDAQ:HGLB) shares were up 0.1% during mid-day trading on Friday . The company traded as high as $7.57 and last traded at $7.53. Approximately 29,972 shares were traded during trading, a decline of 55% from the average daily volume of 66,801 shares. The stock had previously closed at $7.52.

Highland Global Allocation Fund Trading Up 0.1 %

The business has a 50-day moving average of $7.78 and a 200-day moving average of $7.62.

Highland Global Allocation Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 24th will be given a $0.081 dividend. The ex-dividend date is Tuesday, December 24th. This represents a $0.97 dividend on an annualized basis and a dividend yield of 12.91%.

Institutional Trading of Highland Global Allocation Fund

A number of institutional investors and hedge funds have recently made changes to their positions in HGLB. BOKF NA lifted its position in shares of Highland Global Allocation Fund by 3.8% in the first quarter. BOKF NA now owns 82,753 shares of the company’s stock worth $628,000 after buying an additional 3,034 shares during the last quarter. Raymond James & Associates lifted its position in shares of Highland Global Allocation Fund by 32.3% during the 2nd quarter. Raymond James & Associates now owns 2,399,477 shares of the company’s stock worth $18,068,000 after purchasing an additional 585,471 shares during the last quarter. Matisse Capital lifted its position in shares of Highland Global Allocation Fund by 6.6% during the 2nd quarter. Matisse Capital now owns 362,300 shares of the company’s stock worth $2,728,000 after purchasing an additional 22,300 shares during the last quarter. Shaker Financial Services LLC lifted its position in shares of Highland Global Allocation Fund by 34.7% during the 2nd quarter. Shaker Financial Services LLC now owns 614,264 shares of the company’s stock worth $4,625,000 after purchasing an additional 158,297 shares during the last quarter. Finally, Private Advisor Group LLC lifted its position in shares of Highland Global Allocation Fund by 1.3% during the 3rd quarter. Private Advisor Group LLC now owns 114,250 shares of the company’s stock worth $898,000 after purchasing an additional 1,500 shares during the last quarter. Institutional investors and hedge funds own 28.79% of the company’s stock.

About Highland Global Allocation Fund

Highland Global Allocation Fund is a closed-end fund designed to provide low correlation to U.S. equity market.

Thr fund applies global thematic investment style, pursuing investments that management team views as undervalued, built around high-conviction themes.